Either we are so fk’ing back or we never went away. 4-17-23

Interest rates… who cares.

Inflation… who cares.

Bitcoin is back at 30k, ETH at 2k and Apple is less than 10% off its all-time high amid a massive drop-off in computer sales and an iPhone that no longer needs to be upgraded unless you want it to come in yellow.

Welcome to RIGD.

The market is rigged against retail. We’re building tools to fight back.

Until the product is ready, enjoy the RIGD REPORT featuring spicy commentary on what’s news and what’s moving markets.

Newsflash: Permabears waking up in 2023

It’s been a rough year for bears. $SPY has rallied ~18.5% since the October bottom of 348.11, $NVDA literally won’t go down, the $VIX has collapsed and every ponzi stock has pivoted from metaverse to AI.

This of course is happening with a macroeconomic backdrop of higher for longer with interest rate shocks nowhere to be seen especially if you go out anywhere on a Friday or Saturday night. Just look at concert tickets going for $300 - $500 for nosebleeds at Taylor Swift or flights to bumblefk nowhere going for the same price.

We don’t care what the CPI report says, shit is expensive and the only moderation we’re seeing is in our checking accounts. Try leaving the house without spending $100, impossible.

Intro rant over…

Ultimately markets are not a direct reflection of reality.

Example being the S&P 500 is up 8% YTD, but breadth is bad, the baddest since 2005.

We made this meme to explain:

Market breadth is an indicator looks at the change between stocks going up and stocks going down.

When more stocks advance than decline, it’s a bullish indicator. The exact opposite is happening now. More declines than advances, but the S&P 500 keeps chugging along - dips are bought fast and furious with big tech supporting the lagging sectors (family - family - family ).

What do? Buy or sell?

Sentiment seems divided on this being a generational buy or generational sell opportunity.

We’ve seen charts that we don’t understand with spooz going to 6000 (thanks David) and others with Tesla going to $20 (they are shitty cars).

No one knows.

We’re building RIGD with two things in mind:

1.) The market fucks max participants

2.) Making money good, losing money bad

To make the first part happen it would probably go something like wait until everyone locks their cash away at 4-5%, then slowly pump asset prices to bring the we are so fk’ing back and nothing can stop the stock market vibes, then sell into the liquidity and rug before the next credit crisis or China invades Taiwan.

Sounds about right?

Cool then you’ll be excited when we launch the make money good, lose money bad features.

The King Stands Alone and It’s Good to be King

Jamie Dimon is the only OG banking CEO left over from the great financial crisis (2008 for you zoomers out there) so he’s seen some shit, done some shit and somehow managed to stay on top of it. Dimon speaks, the market listens. He switches from burritos to salad and sweetgreen stock goes limit up. That’s actually not true but you get the idea.

Two weeks ago, in his annual letter to Chase shareholders, Dimon warned of new economic storms ahead and that the Silicon Valley Bank crisis will be felt for years. It’s funny he somehow neglected to mention that $JPM would be the biggest beneficiary of SVB’s blunders. They reported earnings Friday and the stock gapped up closing the day at $138.73 for an insane 7.54% gain.

Thursday call buyers at the close got rich. It would be nice to see triggers for unusual activity especially around volatile events like earnings.

The stock went up because revenue jumped 25% driven by a 49% rise in net interest income.

Like we said.. it’s good to be king of the US banking system. We’ll see if shareholders agree to bump Dimon’s compensation from the paltry $34.5m

You know you’re in trouble when…

We haven’t backtested this strategy yet… but when a CEO does a major media sit down interview or gets the cover of a soon to die financial magazine, it’s usually a solid contra meaning a move to fade.

Last night Google’s CEO Sundar Pichai went on 60 minutes (TMZ) to offer some doom and gloom about the future of AI. Not quite an Ackman level of crybaby performance but give him time and he’ll get there.

Speaking of Bing there’s rumors Samsung may be switching from Google for all of their smartphones. With Apple’s renewal license coming up later this year, it would appear Tim Cook’s streak of merciless domination of his fellow big tech CEOs will continue. If Samsung goes with Bing, Apple will get more leverage room with Google and vice versa with Microsoft.

$GOOG down -3.19% at time of writing.

thanks for reading the RIGD REPORT!

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it would also be very cool to follow us on twitter @rigd_ai.

this was written by humans but we’re training an LLM to see if it can snark, sass and shitpost like a God.

last… we are hiring a data scientist with experience trading options. is it you?

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